Week+3+Overview.docx

# Week+3+Overview.docx - Course MGMT650 Course Title...

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Course #: MGMT650 Course Title: Statistics for Managerial Decision Making Week 3: Introduction to Probabilities: determining the numerical value that indicates the chance, or likelihood, of a specific event occurring. These measure help managers make educated decisions for their companies. Learning Objectives: 1. Discuss the different types of probabilities (classical, empirical, subjective) 2. What are the basic properties and rules used in calculating probabilities? 3. Probability rules for more than one event. Reading: Introduction to Probability %20Business%20Statistics.pdf Events and Sample Spaces Simple Probability Joint Probability General Addition Rule

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• Spring '14

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